Premier (NASDAQ:PINC)‘s stock had its “neutral” rating restated by investment analysts at Credit Suisse Group in a research report issued on Tuesday, MarketBeat.com reports. They presently have a $42.00 target price on the stock, down from their prior target price of $43.00. Credit Suisse Group’s target price points to a potential upside of 8.95% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Citigroup raised Premier from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, May 2nd. Guggenheim assumed coverage on Premier in a report on Tuesday, June 18th. They set a “neutral” rating and a $41.00 price target on the stock. BidaskClub upgraded Premier from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research downgraded Premier from a “buy” rating to a “sell” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Premier presently has a consensus rating of “Hold” and an average price target of $43.33.
PINC opened at $38.55 on Tuesday. The business’s 50-day moving average price is $39.28. Premier has a 12-month low of $31.31 and a 12-month high of $47.22. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 1.35 and a beta of 0.35.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP increased its holdings in shares of Premier by 48.6% in the 1st quarter. Royce & Associates LP now owns 1,388 shares of the company’s stock valued at $48,000 after acquiring an additional 454 shares during the last quarter. BB&T Securities LLC increased its holdings in shares of Premier by 10.6% in the 2nd quarter. BB&T Securities LLC now owns 7,645 shares of the company’s stock valued at $299,000 after acquiring an additional 732 shares during the last quarter. Flinton Capital Management LLC increased its holdings in shares of Premier by 5.4% in the 2nd quarter. Flinton Capital Management LLC now owns 16,576 shares of the company’s stock valued at $648,000 after acquiring an additional 848 shares during the last quarter. Avalon Advisors LLC increased its holdings in shares of Premier by 1.2% in the 1st quarter. Avalon Advisors LLC now owns 84,676 shares of the company’s stock valued at $2,920,000 after acquiring an additional 1,021 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Premier by 3.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 31,936 shares of the company’s stock valued at $1,249,000 after acquiring an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 47.87% of the company’s stock.
Premier Company Profile
Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.
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